For the first time… an Ethereum address holding 100,000 USDC coins has been blacklisted
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Answer For the first time… an Ethereum address holding 100,000 USDC coins has been blacklisted
For the first time ever, an Ethereum address holding 100,000 USDC coins was blacklisted, confirming a transaction that could be… examining It was reported via Etherscan that a “blacklist” function was triggered for a transaction that began on June 16, 2020, by the address:
0x5dB0115f3B72d19cEa34dD697cf412Ff86dc7E1b
It is an address controlled by CENTER representing Coinbase and Circle, the company responsible for issuing the USDC stablecoin.
This blacklisted address will not be allowed to conduct transactions including receiving or sending money via a USDC smart contract.
Circle’s management has indicated that all USDC balances held on blacklisted addresses can be permanently non-refundable.
Read:Tether reveals its holdings of commercial paper that backs the USDT stablecoin
The attached comments, which appear to be related to the blacklisted address, indicated that the owner of the blacklisted address stole the cryptocurrency and was therefore blacklisted.
A spokesperson told Circle that the address was blacklisted in response to a request from law enforcement.
Although the representative was not allowed to provide further details on the matter, the same spokesperson from Circle told CENTER that CENTER aims to comply with court orders.
Interestingly, USDC, the world’s second largest stablecoin behind Coinbase and Circle, is ranked 1.00 by the CRC Rating Board, whose members include Coinbase, Circle, Kraken and Bittrex. Genesis Capital, eToro, OKCoin…
The CRC Group supports and enhances regulatory clarity in the blockchain space.
The CRC Group Agreement clarified the following:
Grade and 1.00 mean that the group analysis indicates that the asset has few or no characteristics consistent with treatment as an investment contract, and therefore is not a guarantee under US federal securities laws.
While a score of 5.00 means that the group analysis indicates that the asset has many characteristics that are strongly compatible with the transaction as collateral.
USDC can be said to be insured and can be processed and regulated as defined above, subject to actions by law enforcement and the need for CENTER to step in to deal with suspicious situations.
Read:Coinbase gets a reference price from Nasdaq of $250 per share
Read also:
Digital Dollar (USDC) Expands to New Blockchain Networks
Disclosure of the first country to start accepting digital dollars (USDC) to pay government services fees and taxes
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